Nomura Asset Management Co. Ltd. Sells 1,472 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Nomura Asset Management Co. Ltd. trimmed its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 218,225 shares of the information technology service provider’s stock after selling 1,472 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $16,782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Duncker Streett & Co. Inc. purchased a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Trust Co. of Vermont grew its position in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions in the fourth quarter valued at $36,000. Spire Wealth Management raised its position in Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC bought a new stake in Cognizant Technology Solutions during the fourth quarter worth about $37,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CTSH shares. Royal Bank of Canada reissued a “sector perform” rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday. UBS Group decreased their price target on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. Barclays increased their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Morgan Stanley lowered their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $84.56.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $75.90 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $82.68 and a 200 day moving average of $79.49. The company has a market cap of $37.54 billion, a PE ratio of 16.83, a P/E/G ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. As a group, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

Cognizant Technology Solutions declared that its board has authorized a share buyback plan on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.